Start with these exposures
- Opening date and license status
- Your experience and planned operations
- Inventory, drivers and location
Coverage considerations
You can begin the quote process while you are preparing the business. An insurer may need details such as a location, license status, prior experience and a description of operations before it can make an offer. Explain what is confirmed and what is still being arranged.
Start with the official licensing checklist. It may call for insurance evidence, a dealer bond, an inspection, education or other documents. Your state and dealer category determine the requirements. Insurance does not itself authorize you to start selling.
Think beyond the license minimum. If you will own inventory, review physical damage protection. If you will keep or repair customers’ vehicles, discuss garagekeepers. Hiring help creates employee coverage questions. Your landlord and lender may have additional requirements.
Build the budget around the total policy cost, the payment needed to start and the remaining schedule. Bond premiums, licensing fees, premises and training are separate expenses. Start your dealer insurance quote online when you are ready.
Compare the coverage and cost
Compare quotes for the same operations and coverage. Confirm the total policy cost, deductibles, payment terms and any exclusions affecting the way you do business.